Naming Rights

In the private sector, naming rights are a financial transaction and form of advertising whereby a corporation or other entity purchases the right to name a facility or event, typically for a defined period of time. For properties like a multi-purpose arena, performing arts venue or an athletic field, the term ranges from three to 20 years. Longer terms are more common for higher profile venues such as a professional sports facility.

The distinctive characteristic for this type of naming rights is that the buyer gets a marketing property to promote products and services, promote customer retention and or increase market share.

There are several forms of corporate sponsored names. A presenting sponsor attaches the name of the corporation or brand at the end (or, sometimes, beginning) of a generic, usually traditional, name (e.g. Mall of America Field at Hubert H. Humphrey Metrodome). A title sponsor replaces the original name of the property with a corporate-sponsored one, with no reference to the previous name.

In a few cases, naming rights contracts have been terminated prematurely. Such terminations may be the result of contractual options, sponsor bankruptcy, or scandals.

Read more about Naming RightsStadium Naming, Other Examples, Social Connotations, Nonprofit Usage

Other articles related to "naming rights":

Chesapeake Energy Arena - History - Current Moniker
... Thunder, announced that they had begun negotiating naming rights to its home arena with new potential partners ... the Oklahoma Ford Dealers, the Thunder decided to terminate the existing naming rights agreement, which was allowed under the original contract ... On October 21, 2010, because of the ongoing negotiation for the naming rights for the arena, and because of its failed negotiation with the Oklahoma Ford Dealers, it was ...
Naming Rights - Nonprofit Usage
... A nonprofit organization has the option to recognize a major gift from a donor by bestowing naming rights to a property in recognition of the financial support ...
Leeds Arena - History - Naming Rights
... On 2 May 2013, telephone and internet bank First Direct were announced as the sponsor of the arena, with the name officially becoming the First Direct Arena ... The naming rights will expire in 2018 ...
Scitech Discovery Centre - Funding
... Sponsors include Lotterywest (who have naming rights on the Lotterywest Science Theatre), BHP Billiton Iron Ore (who have naming rights to the feature exhibitions created by Scitech, Western Power (who ...
Sun Gro Horticulture - Naming Rights
... Sun Gro has naming rights to the Sun Gro Centre in Beausejour, Manitoba and occasionally sponsors events there ...

Famous quotes containing the words rights and/or naming:

    When and under what conditions is the black man to have a free ballot? When is he in fact to have those full civil rights which have so long been his in law?
    Benjamin Harrison (1833–1901)

    The night is itself sleep
    And what goes on in it, the naming of the wind,
    Our notes to each other, always repeated, always the same.
    John Ashbery (b. 1927)